00home-buying

Buying your first home is an exciting milestone. It is also an endeavor that can get complicated quickly, so I recommend working with a registered real estate salesperson or broker to guide you through the process.

The Real Estate Council of Ontario (RECO) has been looking out for home buyers – and sellers – for over two decades. I suggest that you start by visiting RECO’s website and following these five tips:

christmas

If you have a new homeowner on your shopping list this year you may want to consider some of these ideas for their Christmas gift. First you must decide if you want to purchase them a unique gift or something more practical. You know the homeowner best, so be sure to choose something that matches their tastes and decor.

help rent

I trust that you have read and understand your obligations as a landlord under the Residential Tenancies Act, confirmed the property zoning accommodates rental and the building meets all the relevant fire and electrical safety codes and that the former owner obtained all the appropriate building permits.

putting down a deposit

There is no standard amount for a deposit, so I can’t tell you how much you will have to pay to firm up an offer. However, if you find a property that’s right for you but you feel the seller is asking for too much money up-front, you could ask your salesperson to negotiate with the seller’s representative about the deposit amount, as well as the timing of any payments.

real estate

I’m unhappy with my real estate salesperson and I’m not sure I want to work with him anymore. Can I cut him out of the process and deal with the seller’s agent myself?

Insurance Protecting your deposit

When you work with a registered real estate broker or salesperson, your deposit is protected subject to the terms and conditions of the insurance policy.

All brokers and salespersons are required by law to participate in an insurance program that includes consumer deposit insurance.

The coverage that protects your deposit is available under the insurance program at no cost to you.